Finance

Algeria: Banks have until June 30 to raise their capital to $150mln

Algeria: Banks have until June 30 to raise their capital to $150mln
Tuesday, 02 February 2021 17:22

The 20 banking institutions operating in Algeria as well as the 8 financial institutions licensed in the country have until June 30, 2021, to get a minimum capital of 20 billion dinars ($150 million) for banks and 6.5 billion dinars ($49 million) for financial institutions, as decided by the Central Bank of Algeria.

Given the impact of covid-19 on economic activity and more directly on banks, added to the decline in the overall liquidity of Algerian banks (regression to 612 billion dinars in November 2020), the regulator agreed to grant banks an additional six months to meet this requirement, whose initial deadline was set at 31 December 2020.

The additional period reflects the non-compliance of several banks on the originally scheduled maturity date. The measure was aimed at strengthening the soundness of the Algerian banking sector.

Chamberline MOKO

On the same topic
IMF approves reviews of Seychelles’ reform programs, unlocking $45 million Total disbursements since 2023 to reach about $105.1...
Cemac developing system to track informal cross-border trade data Regional workshop trains experts on mapping flows and estimating...
Nigerian insurers Guinea, Sovereign Trust seek 10.8bn naira capital Guinea launches rights issue; Sovereign Trust awaits NGX approval Raises aim meet...
Adenia Entrepreneurial Fund I (AEF) secures $180 million in its first close, exceeding its $150 million target. The fund targets...
Most Read
01

Telecel Ghana to boost network investment by 150% in 2026 Expansion targets capacity, reliabi...

Telecel Ghana plans 150% investment increase in MTN-dominated market
02

CCR-UEMOA presents mid-term review of private sector competitiveness efforts Reforms, AfCFTA trai...

Strengthening the Business Climate in WAEMU Countries: CCR-UEMOA Reviews Its Midterm Record
03

Togo parliament adopts WAEMU law against currency counterfeiting Bill defines offences including ...

Togo Passes Law to Criminalize Counterfeiting of West African CFA Franc
04

BOAD plans 750 billion CFA francs financing for Burkina Faso Funds to support key sectors and Rel...

BOAD to Mobilize $1.3 Billion in Support of Burkina Faso 2026-2030 Development Plan
05

Yassir moves into media distribution in France with the acquisition of Paris-based adtech firm Kaw...

Algeria-based Yassir expands into media distribution in France with planned acquisition of Kawarizmi
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.